Treasury Minister Allan Bell has signed an important taxation agreement with Estonia.

The ceremony took place yesterday, as Matt Kennaugh reports (text, below, from attached audio file):

The double taxation agreement will allow the exchange of goods and services, and movements of capital, technology and people between the Isle of Man and Estonia.

Allan Bell signed the papers at a ceremony in Tallinn with Urmas Paet who's the Minister of Foreign Affairs for the country.

The agreement between the two governments is based on a model published by the Organisation for Economic Co-operation and Development, perhaps better known as the OECD.

The double taxation agreement will also act to prevent tax evasion and delivers the OECD's international standard on tax transparency and exchange of information.